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Baghdad-Turkey-Kurdistan... Who is the weakest link if oil pumping through Ceyhan is not resumed?
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Baghdad today - Baghdad
Economic expert Jawad Malikshahi confirmed today, Thursday (October 5, 2023), that exporting the Kurdistan region’s oil is important for Turkey, Iraq, the region, and for companies operating in the oil sector operating in Kurdistan, at a time when the scene is still ambiguous regarding who benefits and who is most affected, and the mechanisms for resuming exports, especially since Baghdad objects to the old mechanisms and contracts of the Kurdistan region.
Malakshahi said in an interview with "Baghdad Today" that "it is in everyone's interest to export Kurdistan oil, and in my opinion it will happen soon, and that Turkey's procrastination during the past months in not exporting was intended to evade the fine imposed by the Paris court."
He added, "The amount of oil that will be exported by SOMO is 400,000 barrels per day, which is stated in the budget law."
He pointed out that "a portion of the revenues will go to companies operating in the oil sector in the Kurdistan region, and the remainder will be paid to the region's dues from the general budget, in the absence of political differences, and what remains will go to the federal treasury."
The Turkish side announced the readiness of the pipelines connecting the Turkish port of Ceyhan to resume pumping oil, but it is not yet known the mechanisms for exporting oil through the port of Ceyhan and according to any agreements, as Baghdad objects to the previous agreements of the Kurdistan region with the Turkish side as well as with the oil companies operating in the region, and the quantities Fees paid for extracting and transporting oil.
The economic expert, Nabil Al-Marsoumi, had said, “Restarting the Iraqi-Turkish line practically means reducing Iraq’s oil exports to the south across the sea by about 350,000 barrels per day due to the production quota specified for it by OPEC Plus.”
He added, "What Kurdistan will gain in oil revenues in the north, Iraq will lose in the south."
On the other hand, experts and specialists believe that Iraq should not compromise in favor of the Turkish conditions, as it has the least loss from stopping oil exports compared to Turkey, as Iraq can compensate for the 400 thousand barrels of its export through the southern ports, as the export rate according to the budget is 3.5 million barrels per day. 3.4 million barrels per day can be exported through southern ports, and the remainder is exported via tanks to Jordan and other countries according to bilateral agreements.
Source: Baghdad Today
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